LONDON, May 17 (Reuters) - Asda, the British supermarket arm of Walmart that is set to be acquired by Sainsbury’s , on Thursday reported a fourth straight quarter of underlying sales growth, showing a recovery under new management is gaining momentum.
Asda, the UK’s third largest grocer after Sainsbury’s and market leader Tesco, said like-for-like sales, excluding fuel, rose 3.4 percent in its fiscal first quarter.
That compared to a 0.5 percent increase in the previous quarter.
Asda said it benefited from the earlier timing of Easter this year but also saw an improving performance from its own-brand products and from online grocery.
Reporting by James Davey; editing by Sarah Young